Telecom firms to go for domestic listings

Three mainland telecommunications companies may list domestically in 2007 to raise capital for new generation phone services. China Mobile, China Telecom and China Netcom Group are all thought to be preparing A-share listings, the Wall Street Journal reported, quoting official media. China Unicom is currently the only major operator listed both in China and overseas. China Mobile, the country's largest mobile-phone operator, is likely to be first although the company has not given a timetable yet despite announcing plans to raise funds domestically. Meanwhile, China Telecom is already in talks with investment banks to raise US$5.13 billion in the second quarter, the newspaper reported.